The global gene panel market is expected to reach USD 2.95 Billion by 2023 from USD 1.05 Billion in 2017, at a CAGR of 19.2%.

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The gene panel market is a fragmented market with the presence of several small and big players. Prominent players in this market include Illumina, Inc. (US), BGI (China), Agilent Technologies (US), Eurofins Scientific (US), QIAGEN (Germany), GENEWIZ, Inc. (US), Novogene Corporation (China), Personalis (US), Thermo Fisher Scientific (US), F. Hoffmann-La Roche AG (Switzerland), Integrated DNA Technologies (IDT) (US), GATC Biotech AG (GATC Biotech) (Germany), and ArcherDx (US).

Based on applications, the gene panel market is segmented into cancer risk assessment, diagnosis of congenital diseases, pharmacogenetics, and other applications. The cancer risk assessment segment is expected to be the fastest growing during the forecast period due to the increasing incidence of cancer and growing demand for gene panel in research and diagnostics to understand the genetic variability of cancer.

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In 2017, North America dominated the gene panel market, followed by Europe. The large share of the North American market can be majorly attributed to the government support for Genomics research. Other growth factors include the presence of leading NGS providers, growing research on cancer and inherited rare diseases, and increasing number of NGS-based & clinical applications in the region.